Published on 1/11/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.03 million phoenix autocallable notes on Roblox, DraftKings
By William Gullotti
Buffalo, N.Y., Jan. 11 – Barclays Bank plc priced $2.03 million of phoenix autocallable notes due Jan. 9, 2025 linked to the least performing of the stocks of Roblox Corp. and DraftKings Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 22.5% if each stock closes at or above its 60% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if each stock closes at or above its call level, 80% of initial level, on any monthly call observation date after three months.
If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but not below the 50% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying stocks: | Roblox Corp., DraftKings Inc.
|
Amount: | $2,025,000
|
Maturity: | Jan. 9, 2025
|
Coupon: | 22.5% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | If each stock finishes at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above barrier level, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from initial level
|
Call: | Automatically at par plus coupon if each stock closes at or above call level on any monthly observation date after three months
|
Initial levels: | $88.54 for Roblox, $24.65 for DraftKings
|
Call levels: | $70.83 for Roblox, $19.72 for DraftKings; 80% of initial levels
|
Coupon barriers: | $53.12 for Roblox, $14.79 for DraftKings; 60% of initial levels
|
Final barriers: | $44.27 for Roblox, $12.32 for DraftKings; 50% of initial levels
|
Pricing date: | Jan. 5
|
Settlement date: | Jan. 10
|
Agent: | Barclays
|
Fees: | 3.5%
|
Cusip: | 06748WZ63
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.